This invention relates generally to the field of stored value accounts, and in particular to the management of such accounts. More specifically, the invention relates to the transfer of value between stored value accounts that are associated with different entities, as well as the management and transfer of value between different value types or purses within a single account or between accounts.
Stored value accounts have gained widespread use in the United States, among other countries. Such stored value accounts are typically associated with a card having an account number, and are often referred to as “gift cards.” These cards can often be purchased at a retail location for a specified amount, e.g., twenty dollars. After paying for the card, the account number is read from the card, such as by using a mag stripe reader on a point-of-sale device. The account number is transmitted to a database where the account is activated for twenty dollars. Each time a purchase is made, the account is debited by the purchase amount.
One issue that arises in connection with such cards is that a wide variety of retail locations now utilize their own cards. Hence, a customer may have multiple gift cards from multiple retail locations. In a typical scenario, if a customer wishes to make a purchase at one retail entity or location, the customer provides the gift card that is associated with that retail location. When making a purchase from another retail entity or location, the customer must provide a gift card that is specific to that particular retail entity. Another issue that arises with such gift cards is that they are typically associated with one type of value, such as cash. Other types of value are typically not associated with such gift cards.
Hence, this invention is related to addressing these and other issues to make such stored value cards more versatile and economically attractive, both to the end use as well as the retailer.